Hi ShahinHate to say you have the wrong forum as Pete hardly contributes at all on PI.com.Also as far as I am aware he is not a Licensed Financial Planner so his advice will be limited to credit advice.CheersYours in Finance

which is why they recommended setting this up straight away as an LOC so we can redraw that when we are ready to buy the IPAnd for that statement solely is the reason why you wouldnt use State Custodians to set up your new investment loan.As Terry has mentioned some great Tax advise from a Banker !!!! and poeple wonder why they get into so much…[Read more]

WI i think you will find DHCP is referring to his Superannuation which in the US of A is know as your 401 K taken from the relevant section of the Inland Revenue Code.CheersYours in Finance

Yeh that or the birth of your triplets whichever comes first lol …………….CheersYours in Finance

Jack i could lend you my 3 and my oldest is a girl and very sensible. Sally would love it ……No i have to say a change in Govt could bring about changes in all areas of lending.Also competition is a very strong alternation of a lenders policy. When you are arent getting any deals you try and see why.In saying that all lenders are working…[Read more]

Hi JprFirstly i hate to say i think you need some specialist help on this one as the funds you have paid off the principal to date you cannot have back by way of redraw and claim a deduction on the interest.What i would probably look to do is switch your current loan to an interest only loan and at the same time look to take out a further sub loan…[Read more]

Opee i agree and that's how i have always structured my portfolio.CheersYours in Finance

Opee what would you like to know ?Financed 1,2 or 101 over the last few years.CheersYours in Finance

Hi Bigmama

Taking it further from what has already been stated remember all you want to do is set up a sub loan secured against your PPOR equivalent to 20% of the anticipated new investment property purchase price + sufficient to cover the acqusition costs and then on a standalone basis (usually with a separate lender) you want to secure the 80%…[Read more]

Hi RobHate to say the days of Gemworth approving a refund have been and gone so think you will struggle there.Might get CBA to refund something as an act of goodwill.CheersYours in Finance

Hi bmttFirstly welcome to the forum and i hope you enjoy your time with us.All lenders lend against the current market valuation of the security where you already own the land or the lower of the purchase price / valuation where you in the process of buying the property.In realty where you have signed a Contract the valuer is likely to value the…[Read more]

Johann only in the covering notes.Most lenders have now removed the Yes / No question  "Are you a tight ass or not" ?CheersYours in Finance 

Hi WinadilNo definately not as this will be seen as a redraw and wont be Tax deductible.When the time comes what you need to do is get the lender to cancel the advance repayments and take out a separate interest only sub loan. Your lender may not like it or indeed have any idea why you want to do so hence you might want to get your Broker to…[Read more]

Jack if you can time it right and have triplets in the next 5 months you can buy 2 more IP's lol.Isnt it ridiculous……………CheersYours in Finance

No worries Seville i have just responded with some basic answers.CheersYours in Finance

As Jamie said i am sure there are knowledge Brokers in WA just dont know any off the top of my head.Just came off the phone from a client who was also looking for a Broker South of the River….. trouble is they were referring to the Singapore River as they work and live in downtown Orchard Road and couldnt find any so rang me in Australia.What i…[Read more]

Hi JennyNo i hate to say i dont think you will at that size.CheersYours in Finance

I agree with the previous comments made that i hate to say i think there is little room for the lender reversing their decision but would be very interested to see how this pans out.Whilst you have already lodged the complaint with the Banking Ombusman you might also wish to see what the Banks publicity department have to say. Tell them the l…[Read more]

Sorry if it is a studio then will need to have a separate bathroom area and you will probably get 70%.Rate on the last one we did was 6.95%.CheersYours in Finance

Jenny if you are referring to CBA Colonial (their Broker division) as long as the property has at least 1 bedroom and the lvr is less than 80% there is no minimum square metreage.Just settled one for a forum member in Melbourne and his property was 32 square metres.If it is a studio then depends on a couple of other factors.CheersYours in Finance